Latest news with #RitaMcGrath
Forbes
3 days ago
- Business
- Forbes
Reinvent Or Fall Behind: 5 Hard Truths From The Frontlines Of Business
Reinvent or Fall Behind: 5 Hard Truths from the Frontlines of Business This April, leaders from 38 countries and countless industries gathered in Dublin for the Reinvention Summit 2025. As one of the co-founders of the Summit—alongside Aidan McCullen, Michael Durkan, and Neil Jordan—I had a front-row seat to the most urgent questions in business today: - Why are our old tools no longer working? - What does a successful leader look like in this age of permanent disruption? - And how do we actually prepare for a future we can't predict? The answers were loud and clear. Here are five hard truths that emerged from the keynotes, panels, and off-the-record conversations at the Summit—insights every professional needs to hear right now. The data is alarming. The 2024 research from the Reinvention Academy, which I shared at the Summit, shows that the average lifecycle of a business model has dropped from 75 years to just 6. Every fifth company in the world is reinventing their products, processes, and business model every 12 months or faster, which means the shelf life of an idea, decision, or product is getting very, very short. Rita McGrath—Columbia Business School professor and bestselling author—delivered a powerful keynote that echoed the ideas she first introduced in her groundbreaking Harvard Business Review article, 'Transient Advantage.' A new approach to management is needed, where we are not betting on one 'silver bullet,' spending years to perfect it. As Alexander Osterwalder, creator of the Business Model Canvas, reminded us in his keynote: If your organization is placing all its bets on a single idea—or failing to retire outdated ones—you're not adapting. You're aging. Most companies divide responsibility for the future among siloed teams: strategy, innovation, and change management. But in today's environment, these functions are interdependent. Misalignment isn't just inefficient—it's lethal. That's why a new leadership role is gaining traction: the Chief Reinvention Officer. This emerging role brings together what used to be fragmented and conflicting parts of the organization into a single, integrated reinvention process. Instead of handing off initiatives from one silo to another, the Chief Reinvention Officer - a leader who can integrate strategy, innovation, and implementation into one cohesive, end-to-end reinvention system. Gary Graham, Chief Reinvention Officer at 3i's Group and the Keynote Listener at the Summit, put it best: 'When most leaders think of reinvention, they think of strategy, technology, or AI. But the real secret? It's about trust.' He referenced McKinsey research that shows leaders often overestimate employee buy-in by a factor of three. People resist change not because they don't care—but because they fear becoming irrelevant. Change fatigue is very real—and growing. In a world where disruption is constant, reinvention must be continuous—and coordinated. Every company grows along an S curve: from start-up and early traction to scale and maturity. But without reinvention, the final stage is decline. In earlier eras, that curve might have lasted decades. But as Aidan McCullen, co-founder of the Summit and author of 'Undisruptable,' explained in his keynote, today's curves are getting shorter and steeper, leaving little room for reaction. The wisdom of jumping the S-curve at the right time is not limited to companies. As Marina Donohoe, Head of Research, Innovation & Infrastructure at Enterprise Ireland, reminded us during the 'Reinventing Ireland' panel, countries must make that crucial choice as well: Ireland, long celebrated for its economic strength through foreign direct investment and global entrepreneurship, now faces a new wave of challenges—from shifting global tax rules and climate change to talent shortages and AI-driven disruption. The question on the table was bold:Can an entire nation become a model for reinvention? Just like companies and careers, countries ride the S-Curve. And just like them, if they don't reinvent, they decline. That's why reinvention isn't a one-time event. It's an operating system—one that must be embedded across every function, every quarter, every decision. When people talk about reinvention, they often focus on what needs to be improved, updated, or removed. But that's just one side of the equation. In this keynote, Charles Conn, Chairman of Patagonia, reminded us of the other side, of what must be preserved: the purpose. Purpose isn't just a slogan. It's an operating anchor. A source of resilience. In times of turbulence, it's easy to become reactive—shifting strategies, chasing trends, abandoning the core. But true reinvention is not about changing everything. It's about knowing what to protect at all costs. In the chaos of reinvention, purpose can become the eye of the storm. It reminds people why they're there. It aligns teams when strategies shift. And it gives companies the courage to choose long-term integrity over short-term gain. Finally—and perhaps most importantly—reinvention isn't something you do alone. The command-and-control model of leadership was designed for stability. But today's leaders are managing through perma-crisis. Instead of top-down control, we need swarming leadership—cross-functional, cross-generational teams that tackle problems quickly and collaboratively, then disperse. These swarms are faster, more adaptive, and more resilient. At the Summit, we heard over and over again that what leaders need most right now isn't another playbook or case study. It's a community. A place to learn from others facing similar challenges. A space to prototype new solutions. A network to lean on when things get tough. Patrick Gormley, Global Lead for AI and Data Science Consulting at Kyndryl, put it simply: This applies to both your employees and your customers. Seth Godin, my personal marketing obsession and bestselling author, captured this new approach with his call to focus on the Minimum Viable Audience: In today's environment, the winners won't be the smartest or fastest. They'll be the ones who stay in motion—and do it together. We're not in a period of temporary turbulence. We're in a new normal. Uncertainty is not a phase—it's the permanent context of our work. In this reality, reinvention is no longer a luxury for the bold—it's the operating system of modern business. If you haven't rethought your strategy, your team structure, or your leadership approach recently—you're probably already falling behind. But the good news? You're not alone. Across industries and continents, leaders are finding new ways to build, adapt, and thrive. The tools, the models, and the community are already here. The future doesn't belong to the biggest or the fastest. It belongs to the most reinventable.
Yahoo
11-05-2025
- Business
- Yahoo
'Things Will Become Scarce During The Big Summer Holidays' – What Experts Say Is Coming With 8 Weeks Of Supply Left
Shoppers could soon find empty shelves just as summer kicks into high gear. Retailers are facing dwindling inventories, with only 6–8 weeks of supply left, according to the Washington Post. "Things will become scarce during the big summer holidays," Rita McGrath, a management professor at Columbia Business School, told the New York Post in an interview last month. In late April, importers scrambled to get goods into the country ahead of new tariffs announced by President Donald Trump's administration. Don't Miss: Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — On April 2, Trump announced a 54% tariff targeting Chinese imports, before sharply increasing it to 145% on April 9. The short 90-day delay in implementation was granted to key trading partners—including Canada, Mexico, and the European Union—but not to China—putting major pressure on American importers relying on Chinese goods. According to Vizion, an API-based shipment tracking platform, bookings from China to the U.S. fell by 44.49% year-over-year for the week of April 14. This sudden decrease has resulted in numerous 'blank sailings,' where scheduled cargo ships are canceled due to lack of demand. Jonathan Gold, vice president for supply chain and customs policy at the National Retail Federation, said in an April 9 statement that small- and medium-sized retailers would be the first to face inventory shortages. "Small businesses, in particular, could be hit hardest as tariffs continue rattling global supply chains," he said. Trending: How do billionaires pay less in income tax than you?. Descartes, a provider of logistics and supply chain management solutions, reported in March, that China accounted for 32% of U.S. container imports, with top categories including furniture, plastics, and bedding. China's share in July was 40%, with consumer-oriented goods like furniture and plastics leading the imports. Up to 80% of businesses that rely on Chinese imports could face bankruptcy under the new tariff structure, warned Flexport CEO Ryan Petersen during an appearance on "The Prof G Pod" with Scott Galloway. Shipping companies are slashing departures. The Journal of Commerce reported on April 21 that blank sailings were set to spike as orders dry up. Freight company HLS Group also logged at least 80 canceled sailings from ripple effects may be felt quickly. The New York Post reported McGrath predicted shortages could surface within weeks for goods that cannot be stockpiled, like seasonal products. In a February interview with Logistics Management, Anne Reinke, president of the Intermodal Association of North America, warned that while recent tariff reprieves may ease pressure temporarily, they won't prevent looming supply disruptions across the intermodal network. Read Next: Nancy Pelosi Invested $5 Million In An AI Company Last Year — 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? APPLE (AAPL): Free Stock Analysis Report TESLA (TSLA): Free Stock Analysis Report This article 'Things Will Become Scarce During The Big Summer Holidays' – What Experts Say Is Coming With 8 Weeks Of Supply Left originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved.
Yahoo
22-04-2025
- Business
- Yahoo
What will become more expensive as tariffs take effect?
(NewsNation) — If you've been thinking about buying a new couch, sneakers or even chocolate, the time might be now. The Trump administration's sweeping tariffs will likely result in higher costs for many imported products — and a lot of uncertainty. 'What I wouldn't do is make any big, life-changing purchases or changes in spending based on the current situation, because you just don't know what's going to change next week,' said Rita McGrath, professor at the Columbia School of Business. Will gas prices go up this summer? It's not just imported goods anticipating price hikes, as domestic brands often follow suit to keep pace. Here are some products you might want to stock up on ahead of summer: Sofas and furniture Electronics Home appliances Apparel and shoes Imported foods Need a cheap bedside table or bookshelf? Businesses like Ikea — a Swedish company — will see costs jump due to tariffs. 'Sofas, furniture, home kind of things. Those have been outsourced for decades now,' McGrath said. 'And the ability to make those things at a price Americans would find acceptable in this country is nearly impossible.' The United States imports most of its coffee from Brazil and Colombia, which face tariffs from Trump. While Hawaii does grow coffee, Americans drink more than 200 times the amount that can be grown on the islands. 67% of CEOs surveyed disapprove of Trump's tariffs Similarly, Hawaii is the sole American source of chocolate, with the U.S. importing 80% of its cocoa beans from Latin American countries. Vanilla, predominantly imported from Madagascar and Indonesia, will also see hefty price hikes. Sugar imports primarily come from Latin America and the Philippines. Popular clothing and shoe brands like Nike, Adidas, Gap, H&M and online retailer Amazon rely on factories around the world for production. Fashion in particular is based in Vietnam, Bangladesh and China. A spokesperson from the U.S. Fashion Industry Association told NewsNation the 'stakes couldn't be higher' for the fashion industry. 'Key fashion-producing regions face particularly harsh measures … The fashion industry is bracing for the fallout,' the spokesperson said. As confusion continues over whether certain electronic products, such as iPhones, will stay exempt from Trump's tariffs, overall prices are expected to rise eventually. Spending is already pulling back in the wake of the tariff news. A new study from the Kearney Consumer Institute said tariff concerns are prompting many shoppers to hold off on major purchases. Tariffs will drive up prices of everyday goods from coffee to toys While the White House has delayed some tariffs for 90 days, the fast-approaching reinstatement deadline could see summer prices climb as current inventories run out. For those who frequent fast-fashion marketplaces like Shein or Temu, prices are expected to rise later this week. NewsNation's Steph Whiteside, Brian Entin and The Associated Presscontributed to this report. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Associated Press
04-02-2025
- Business
- Associated Press
Reinvention Summit 2025 Coming to Ireland
The conference brings together global trailblazers plus industry and thought leaders to craft actionable strategies for navigating a hyper-disrupted world. DUBLIN, IRELAND, February 4, 2025 / / -- Reinvention Summit 2025, a strategic leadership event named by Forbes as one of the top five leadership events to attend this year, is coming to Ireland April 29-30, 2025. The conference is dedicated to empowering organizations and leaders to navigate the complexities of leading through a future filled with disruption and uncertainty. Attendees will gain insights from renowned global trailblazers and powerhouse industry and thought leaders including Rita McGrath, one of the world's foremost strategy and innovation experts, Charles Conn, Chairman of Patagonia, Alexander Osterwalder, CEO of Strategyzer and Creator of The Business Model Canvas, Kim B. Clark, former Dean of Harvard Business School, marketing visionary Seth Godin, author of 'From Incremental to Exponential' Ismail Amla, author of 'Unstoppable' Victoria Pelletier and corporate business veteran and author of 'The Emergent Approach to Strategy,' Peter Compo, 'In an era where traditional business models are becoming obsolete, this event aims to equip leaders and organizations with the strategies and tools necessary to become accustomed to disruption and thrive amid profound economic, geopolitical, and technological shifts,' explains Rita McGrath, a C-Suite Strategist, best-selling author and the founder of Valize and who will serve as a keynote speaker and CEO advisor at the events. Reinvention Summit 2025 will feature global strategy and innovation practitioners from other top companies including Mastercard, Diageo, Paypal, Estee Lauder, Red Wing Shoe Co, BNP Paribas, Siemens Healthineers, Outthinker, and many more. In addition to the keynote address and workshops with McGrath, attendees will be exposed to: - Interactive Sessions: The summit will introduce a groundbreaking format focused on immediate, relevant management solutions through hands-on sessions designed for actionable outcomes. Part workshop, part theatrical experience, it will be an immersive experience featuring workshops, panels, and breakout sessions crafted to inspire both action and reflection. - Networking Opportunities: Participants will connect with like-minded professionals dedicated to driving change and innovation within their organizations. - Executive Leadership offerings: The Summit will include an invite-only workshop for CEOs as well as workshop opportunities for C-suite level executives to receive one-on-one coaching, attend working sessions and to network together. 'This isn't your standard corporate conference. It's a transformative space designed to spark fresh thinking, reimagine how we engage with education, and help leaders and organizations develop actionable strategies to turn challenges into opportunities,' explains Aidan McCullen, a transformation consultant and host of the Innovation Show who founded the Reinvention Summit and will be a keynote speaker. McCullen says the event will help organizations: CONNECT: Network with CEOs, industry pioneers, and experts who use reinvention as a core strategy to stay ahead. LEARN: Gain access to elite-level strategies, tools, and insights typically reserved for boardrooms and top institutions. ACT: Leave equipped with actionable insights to make an immediate impact on your career. 'Our speakers are globally recognized experts in strategy and innovation and they won't just be presenting. They are coming to be active participants in meaningful conversations,' McCullen continues. 'This interactive event encourages attendees to be inspired, collaborate with peers, and engage directly with thought leaders to create strategic action plans they can implement immediately. It's about walking away with real-world solutions and the tools to drive change.' Why Attend? Nearly half of top CEOs (47%) say they dedicate significant time to continuous reinvention and yet 68% of leaders say they struggle to reinvent successfully. This summit will address the critical challenges including overcoming resistance to change, breaking down organizational silos, and effectively implementing innovative strategies to navigate an uncertain and fast-changing future. Leaders can come on their own. Several companies are also sending entire leadership teams and using the event as a company offsite to guide these high-level discussions with world-renowned experts. 'Continuous invention can be extremely challenging to navigate because there just aren't a lot of tools or resources out there to help leaders figure out how to navigate this level of constant disruption,' Rita McGrath says. 'We are excited to offer a solution - an event that brings together senior leaders - not just to listen to keynotes - but to roll up their sleeves and work with experts and peers to craft real action plans to help them lead through this challenge.' IT service management company Kyndryl is the headline sponsor of the two-day Reinvention Summit, which has additional sponsors including Enterprise Ireland, Permanent TSB Group and Accenture. Tickets are limited. Secure your spot today at Reinvention Summit 2025, April 29-April 30, 2025 as well as the Small Country Summit on April 28, 2025 and a May 1, 2025 VIP Event by visiting The Valize Reinvention Summit or Be ready to transform disruption into opportunity alongside the world's leading innovators and thought leaders. Jennifer Davis Laura Evans Media
